Global Railway Propulsion System Market to Witness CAGR of 4.2% from 2023 to 2031 and reach US$ 13.46 Billion by 2031; states TNR

WILMINGTON, DELAWARE, UNITED STATES, November 28, 2023 /EINPresswire.com/ -- Global Railway Propulsion System Market Outline
A railway propulsion system propels trains by converting energy sources like electricity or diesel into mechanical force. It encompasses engines, motors, and transmission systems. Electric systems use overhead wires or rails for power, converted by motors into motion. Diesel systems utilize internal combustion engines to generate electricity for motors. The system's efficiency and environmental impact significantly influence train operations. Efficient propulsion ensures reliable and eco-friendly railway transportation, crucial for modernizing and enhancing the speed and sustainability of rail networks.

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Before the COVID-19 pandemic, the railway propulsion system market was characterized by a growing momentum towards electrification, driven by environmental concerns and efficiency goals. Electrified and hybrid systems were gaining traction, with substantial investments in rail infrastructure. However, the pandemic disrupted supply chains, causing project delays and funding uncertainties. In the post-COVID-19 era, the market is witnessing a resurgence as economies stabilize. The focus on sustainable transportation solutions remains intact, with a renewed push for electrification projects. The pandemic highlighted the significance of resilient transportation networks, intensifying the drive for modernized propulsion systems to ensure efficient and environmentally conscious rail operations.

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Global Railway Propulsion System Market Driving Factors:
• Sustainability and Emissions Reduction: A pivotal driver in the railway propulsion system market is the urgent need for sustainability and emissions reduction. The International Energy Agency (IEA) reported that rail transport emits significantly lower greenhouse gases compared to other modes, motivating governments to prioritize rail modernization. A survey by the International Union of Railways (UIC) revealed that 80% of rail operators are focusing on reducing carbon emissions. Data from the United Nations Economic and Social Council (ECOSOC) highlights rail's potential to enhance sustainable mobility, fostering investments in electrification and cleaner propulsion technologies to align with global environmental commitments.
• Urbanization and Congestion Relief: The relentless pace of urbanization and associated congestion intensify the demand for efficient railway propulsion system market. A study by the United Nations predicted that by 2050, 68% of the global population will reside in urban areas. Database analysis of urban transit projects illustrates a 40% increase in metro and tram expansions, as reported by the International Association of Public Transport (UITP). To combat congestion, governments are investing in metro, tram, and monorail systems. Rail offers a space-efficient, sustainable solution for moving larger numbers of people in cities, driving demand for advanced propulsion technologies.
• High-Speed Rail and Interconnectivity: The expansion of high-speed rail networks is a compelling driver in the railway propulsion system market. Data from the International Union of Railways (UIC) indicates that high-speed rail systems have grown by 25% in the last decade. Surveys conducted by the Organization for Economic Co-operation and Development (OECD) highlight that high-speed rail connections improve interconnectivity, stimulate economic growth, and offer a competitive alternative to air travel. Notably, the European Commission's high-speed rail initiatives aim to cover 30,000 kilometers by 2030. This impetus for faster and efficient rail travel fuels investments in cutting-edge propulsion technologies to meet the demands of high-speed rail networks worldwide.
• Some recent developments in the railway propulsion system market include the increasing adoption of electric and hybrid propulsion systems, the development of new technologies for improving the efficiency of railway propulsion systems, the increasing use of automation and digitalization in railway propulsion systems, and the growth of the high-speed rail market.
• The Asia Pacific region exhibits highest growth rate in the railway propulsion system market. In countries like India, the Indian Journal of Urology reported a rising incidence of kidney stone disease due to dietary changes and lifestyle factors. Moreover, the Asia-Pacific Urogynecology Association revealed that pelvic organ prolapse is becoming more prevalent among women in the region, necessitating increased railway propulsion system. Growing healthcare expenditure and expanding databases, such as China's National Health Statistics Reports, point to a rising demand for urological solutions across the Asia Pacific.

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Global Railway Propulsion System Market: Competitive Landscape and Key Developments
o ABB
o Alstom
o CRRC Corporation Limited
o Fuji Electric Co., Ltd.
o Hitachi, Ltd.
o MEDCOM Sp. z o.o.
o Mitsubishi Corporation
o Siemens
o Titagarh Rail Systems Limited
o Toshiba Corporation
o Other Industry Participants

In January 2023, Siemens Mobility obtained a deal with Indian Railways for the construction of 1,200 electric locomotives. The contract, estimated at approximately €3 billion, encompasses tasks ranging from design and manufacturing to commissioning and testing of the locomotives. These locomotives will feature cutting-edge propulsion systems, produced domestically at Siemens Mobility facilities within India.
In July 2022, Alstom was awarded a contract by MTR Nordic AB, a rolling stock operator, to provide propulsion systems for the upcoming 25 Zefiro Express high-speed trains. This marks Alstom's first definitive order for propulsion systems, totaling approximately $714 million. The inaugural train is scheduled for delivery in 2026 as part of this collaboration.

Global Railway Propulsion System Market:
By Type
o Diesel
o Electric
o Hybrid
By Application
o Locomotive
o Metro
o Monorail
o Trams
o Others
By End User
o Passenger Transit
o Cargo Transit

By Region
o North America (U.S., Canada, Mexico, Rest of North America)
o Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
o Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
o Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
o Latin America (Brazil, Argentina, Rest of Latin America)

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The Niche Research
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